Investors Weighing Fed Taper, Pullback Possible

Matt Jarzemsky joins the News Hub with a look at today's market action, including three stocks to watch. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... the ... U S markets looks like today up a little bit Asian markets been taking it on the chin lately as reality sets in over the end of easy money from the Fed after sensed he joins me now from the Wall Street Journal's Markets test Mecca morning morning okay so ... first off with some of today's trading were looking a little that iron ... yes it uses the little that higher aam you know were ... were coming off a little bit of a pullback for for U S stocks just been you know Billy Ray or lately the pianist this for years and is this fragile March ... upward to record highs ... on the Dow was coming off of four straight daily declines in now so ... aam did tennis peanut after going down for Goebel is ready to go up again to let let's talk little bit about ... one thing it's the it's got the Fed ... I'm ... starting to focus is the reaction to potential ... pulling back on easy money into the reaction Abroad cheekily Asia ... bright ... desolate no Asian markets are down Big overnight aam Europe is also trading lower in he got hit really hard on Friday and then it's continued right and you know this ... but most of the sentence right there you were or were really getting the point with the Rovers to meet the broker said read aloud kibbutz with a steeper Supreme September ... the guts of Fed news this week on the FOMC that the Fed's policy setting committee ... is putting up the minutes of its leading place meeting tomorrow and with that that the big Jackson Hole ... a new meeting of central bankers later this week ... okay so easy money not the end of easy money not good news for emerging markets to push up over three Stocks broken at retailers in focus today yet so odd Yemen in fits and is a big week for retail earnings actually we've got ... best Buy Home Depot and actually J C Penney all ... trading higher on the pre market on sort of ... no better than expected earnings reports best buy had a surprise growth in quarterly earnings ... aam and Gekko ... raised its its forecasts for the year you know ... housing has continued to be sort of a ... what people see as a bright spot in the county of a new lease in some pullback and housing Center versus rates picked up the pace that's good news for home Depot Brett and I meant J C Penney has for that ... not not great looking quarter they should posted a bigger than expected quarterly loss ... aam but you know that management ... made some comments but same-store sales declines starting to moderate something's coming getting worse scene did that that was the what's the point that we're always looking for and markets rector Ember J C Penney shares have just got hammered ... I made this known as bruising battle with ... with Bill Ackman Menon over into the country strategies is another hedge fund its getting involved Kyle Bass Strait at a Texas he's he's ... not long equity but when he's taking a long position ... for instance selling credit default swaps read ... so selling insurance that did the egg against a default he's betting that they're not going to fall yet so I mean you know at times assist people think after after this much in the slide in and see the bottom and ... no ... best Buy shares may do well Wally may become a similar